Mexico Enters The U.S. Treasury Monitoring List
MEXICO CITY — During the last month, the Mexican peso has gained strength in the exchange market, going from about 21 units per dollar to somewhere above 19. The U.S. Treasury plans to have a closer look at Mexico's currency practices.
Mexico has been included for the first time in the Department of Treasury’s monitoring list for currency exchange, as a result of the trade surplus with the U.S.
The Treasury’s report states Mexico fell into recession well in advance of the pandemic and might still be affected by its fiscal austerity and a deteriorating domestic investment climate.
In a statement, Mexico’s secretary of Finance clarified that the country’s inclusion on the Treasury list is not a sanction and doesn’t classify the nation as a country manipulating exchange rates.
The Mexican office says the trade balance will readjust with economic growth, and that being included on the list is part of a trade procedure.